JBM ECOLIFE Mobility (P) Ltd, a subsidiary of JBM Auto Limited and a leader in electric bus mobility in India, has secured $100 million in strategic funding from the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB). The funds will be used to supply and operate 650 electric buses across multiple states in India under the Gross Cost Contract (GCC) model. This marks a significant step in the company’s mission to promote green public mobility in India.
The funding was secured following comprehensive Environmental, Social, and Governance (ESG) audits, demonstrating JBM’s commitment to sustainable mobility and the circular economy. The funds will be instrumental in transforming public transportation across various cities, providing eco-friendly, technologically advanced, and safe mobility solutions.
JBM has already deployed over 1,500 electric buses in 10 states and more than 15 major airports in India, with a current order book of over 6,500 buses under execution. The company has also set up the world’s largest dedicated integrated electric bus manufacturing facility outside China, located in the Delhi-NCR region, with an annual production capacity of 20,000 electric buses.
Nishant Arya, Vice Chairman & Managing Director of JBM Group, expressed gratitude for the support from ADB and AIIB, emphasizing the company’s dedication to zero-emission technologies and sustainable development. “Our electric buses will continue to lead India’s e-mobility momentum, playing a vital role in achieving the country’s Net Zero 2070 target,” Arya said.
ADB’s Director General for Private Sector Operations Department, Suzanne Gaboury, highlighted the importance of the initiative in improving public health and climate action. “Supporting electric buses is an investment in cleaner air and sustainable infrastructure,” she said.
Najeeb Haider, Director General of Global Project and Corporate Finance at AIIB, stated that this project aims to accelerate clean energy public mobility solutions, enhancing the quality of life in urban and semi-urban cities.
JBM’s electric buses, introduced in 2018, have revolutionized green public transportation by offering high standards of comfort, safety, and innovation. The buses have already clocked 150 million electric kilometers, serving 1 billion commuters globally.
